BMC Software adj. earnings top expectations

NEW YORK (CBS.MW) - BMC Software
BMC, +3.23%
reported fiscal a third-quarter net loss of $44.4 million, or 20 cents a share, vs. a profit of a nickel a share in the year-earlier period. Excluding special items, such as restructuring charges, earnings were 19 cents a share, above the average analyst estimate compiled by Reuters Research of 17 cents a share. Revenue rose 7 percent to $374.8 million, ahead of analyst expectations of $359.1 million. Looking ahead, the software maker expects earnings of 21 to 25 cents a share in its fiscal fourth-quarter, surrounding analyst forecasts of 22 cents. The company also raised its cash flow outlook for 2004 to $400 million to $450 million from $340 million to $390 million. The stock closed Monday down 6 cents at $21.54.

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